March 9 2018

CEG Economic Development Week in Review – March 5 – March 9, 2018


Stay up-to-date on business and economic development happenings in the Capital Region with the CEG Economic Development Week in Review. Don’t miss out on the developments that are transforming the region by following us on:


Times Union Notes CEG’s Talent Retention Efforts

Times Union: CEG study shows momentum on side of local video game cluster

Troy Record: CEG study shows many players join Business of Digital Games

Business Review cites CEG study on video game development cluster growth

Saratogian covers CEG/ACE creative economy roundtable in Saratoga Springs   


Flomatic seeks expansion approval

“A proposal to build a nearly 19,000-square-foot addition to the Flomatic Corp. building will be reviewed on Tuesday by the city Planning Board.

Flomatic, which makes valves, needs the additional room to install a new epoxy coating system. That would increase the capacity by about 50 percent.”

Argyle farm raises crops, profits with high tunnels

“Paul and Sandy Arnold don’t have to wait for St. Patrick’s Day to celebrate the Luck o’ the Irish.

Their Pleasant Valley Farm is an Emerald Isle unto itself where fresh greens grow at all times of year.”

Cuomo announces $3.1 million for Albany Skyway park

“Capital city residents and officials have long bemoaned the disconnect between Albany’s downtown and the Hudson River waterfront, but a $3.1 million state boost for a proposed Skyway Project could help bridge the barrier.

The funding announced by Gov. Andrew Cuomo on Monday would help complete the preliminary design and begin construction on converting an underused I-787 ramp downtown into a linear park with pathways for pedestrians and bicyclists, plus landscaping and places to sit.”

Lumberyard takes shape

“Construction on the Lumberyard Contemporary Performing Arts building in Catskill is moving along with an expected completion date by fall.

Work on the $7.2 million project started in late December, when some demolition and abatement for asbestos found in the building was performed, Lumberyard Production Director Jason Wells said Tuesday. An event will be held in September to celebrate completion.”

GE launches energy storage tech developed in Niskayuna

“General Electric Co. has launched a new energy storage business called Reservoir that was developed at GE Global Research in Niskayuna along with GE Power of Schenectady.

The main product of the business is a 20-foot long lithium-ion battery stack called the Reservoir Storage Unit that can be used for storing and dispatching electricity generated from wind and solar farms and for use on the electrical grid. The devices store 4 megawatt hours of electricity, which could power 2,600 homes for an hour.”

Manufacturing incubator, prototyping center set to open in Troy

“The Tech Valley Center of Gravity, the maker space in downtown Troy that hosts everything from video game workshops to quilting classes, is getting ready to open its new rapid prototyping center and manufacturing incubator.

A ribbon cutting is scheduled for March 21 to officially launch the two new programs that are designed to help local startups get their products to market more quickly.”

New ‘Opportunity Zones’ to target investment in poor urban neighborhoods and rural areas

“The federal tax cuts that President Donald Trump signed into law in December include a new program designed to spur investment in poor urban neighborhoods and rural areas by providing tax incentives to investors.

The program will create so-called Opportunity Zones in a select number of low-income census tracts that are nominated by governors.”

New York sets a record for private sector jobs; Capital District had largest employment growth

“The number of private sector jobs in New York state reached an all-time high in 2017, according to new numbers released by the U.S. Bureau of Labor Statistics.

And from January, 2017 to January, 2018, the Albany-Schenectady-Troy area had the largest employment growth in the state at 2.1 percent. The Capital District is followed by New York City with a 2 percent growth rate and the Dutchess-Putnam area at 1.9 percent.”

Funding Partners